IL&FS unveils fund generation via InvITs

ILFS Sterlite Power Transmission Trust
Ensuring smooth flow of fund for their on-going infrastructure projects, IL&FS and Sterlite Power Transmission Trust in a first of its kind initiative have recently filed an application with market regulator Securities and Exchange Board of India (SEBI) to generate funds through an Infrastructure Investment Trusts (InvITs). Like Real estate investment trusts (Reits), InvITs are instrument through which investors can take exposure to income-generating infrastructure assets. Though, the framework for both Reits and InvITs has been in place for more than a year, however no issuer has so far raised money through these instruments. IL&FS Transportation and Sterlite Power Transmission Trust are likely to be the first companies to raise capital through InvITs. According to sources, Sterlite Power Grid Ventures Ltd. is planning to raise around Rs.2,500-3,000-cr and would use the fund partly to reinvest in existing projects.

FM commits ₹18,600-cr for suburban rail network

The Finance Minister has committed funds for the 148-km suburban rail project in Bengaluru as the Cabinet has cleared the proposal for the project entailing an investment of ₹18,600 crore. The Centre and Karnataka will share 20% each Read More ...

NHAI floats tenders for ₹265-cr road projects

The National Highway Authority of India (NHAI) has floated two separate tenders for the upgradation of the Ring Road at an estimated cost of ₹139.99 crore in Karnataka. The first tender is related to developing the Ring Road between Read More ...

DDA invites bids for ₹550-cr CycleWalk track in Delhi

The Delhi Development Authority (DDA) has invited bids to appoint a consultant for the first phase of the 200-km CycleWalk and walking network and is set to start construction for Phase-1, 36 km long walking tracks in South Delhi Read More ...

CREDAI hosts New India Summit at Naya Raipur

CREDAI hosted the 3rd edition of New India Summit at Naya Raipur to foster development in real estate in non-metro cities and address challenges faced by realty developers and discuss solutions. It also launched the 'CREDAI Awaas' Read More ...

Goa gets ₹250-cr for road widening project

Union minister of state for road transport, V K Singh has approved ₹250 crore to complete the national highway widening work and assured the state government that the ministry would sanction an additional amount if needed Read More ...

PM launches infra projects worth ₹1,254-cr

PM Narendra Modi has recently laid the foundation of infrastructure projects worth ₹1,254 crore in Varanasi and for half a dozen other projects. He also inaugurated the Deendayal Hastkala Sankul or Trade Facilitation Centre and Craft Read More ...

NHAI launches ₹15,000-cr road projects in AP

NHAI has undertaken 18 national highway projects in Andhra Pradesh at an investment of ₹15,000 crore, Transport minister Nitin Gadkari informed that the Central government has undertaken 38 projects for expansion and development Read More ...

Karnataka plans flurry of airport projects

Buoyed by the launching of Kalaburagi and Bidar airports, the Karnatak government is now set to build four more airports in the state for which it has in-principle approvals from the civil aviation ministry. The government is also Read More ...

Goldman Sachs infuses ₹610-cr in realty project in NCR

US-based banking giant Goldman Sachs has invested ₹610 crore in Vatika Group's project in Gurgaon. Managing director Gaurav Bhalla informed that ₹245 crore will be used to expedite construction in the first phase of a commercial Read More ...

Kerala steers clears ₹56,443-cr high speed metro project

The state government in Kerala announced that the semi-high-speed rail project, connecting Kasargod and Thiruvananthapuram, will be completed in three years at an investment of ₹56,443 crore, Finance Minister Thomas Isaac said Read More ...

MMRDA plans flurry of skyscrapers with higher FSI

Country's premier business district, the Bandra Kurla Complex in Mumbai, is all set to rise higher and is going to witness more construction dotting skyscrapers with increased FSI, said official sources, claiming that MMRDA Read More ...

Decks cleared to build bridge on Yamuna flood plains

The National Green Tribunal has approved the Delhi Metro Rail Corporation (DMRC) plans to construct a bridge on the Yamuna flood plains under Phase-IV of the metro rail expansion. To ensure additional environmental safeguards Read More ...

Vizag Metro rail project gets 80-km extension

The state government in Andhra Pradesh has decided to stretch the distance of the Vizag Metro Rail up to 79.91 km, in the first phase and has accordingly directed the Amaravati Metro Rail Corporation (AMRC) to appoint a consultant Read More ...

Synq work launches 55,000 sq ft co-working project

Adding to its project portfolio in the realty space, Synq.work has launched 55,000 sq ft co-working space at the SAS Tower in Gurugram in the NCR region where the centre will have a capacity of about 820 seats. The rent in Read More ...

State Cabinet in Bihar clears ₹1,030-cr road project

The state cabinet in Bihar has recently cleared the government proposal to build four-lane road, which would have both surface and elevated sections, connecting Mithapur in Patna with Ramgovind Singh Mahuli halt to the east Read More ...

Karnataka fast tracks ₹780-cr road project

In a bid to provide hassle free transport services in the area, the state government in Karnataka has speed up the construction of Mangaluru-Athradi State Highway- 67 and a DPR of the project has been submitted by Coastal Read More ...
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